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PM directs strategy formulation for stronger economic, investment ties with Azerbaijan

PM directs strategy formulation for stronger economic, investment ties with Azerbaijan
June 27, 2024 Web Desk

ISLAMABAD (APP) - Prime Minister Muhammad Shehbaz Sharif on Thursday instructed the formulation of a comprehensive strategy to strengthen cooperation and trade partnership with Azerbaijan in the fields of economy and investment.

Chairing a high-level meeting on enhancing relations with Central Asian States, particularly Azerbaijan, in the areas of economy and investment, the prime minister stated, “Pakistan geographically offers a natural economic corridor to the sea for Central Asian states.”

He highlighted the enduring fraternal relations between Pakistan and Azerbaijan, which had spanned decades. He believed that there were significant opportunities for trade and investment between Azerbaijan and Pakistan.

“Foreign investment in the country is on the rise due to the government’s business and investment-friendly policies,” the prime minister mentioned. He directed the development of a comprehensive action plan to boost trade efficiency and expand current trade between the two countries.

During the meeting, the prime minister was briefed on initiatives aimed at enhancing trade volume, capacity, and trade and investment between Pakistan and Azerbaijan. It was highlighted during the briefing that there was substantial potential for energy cooperation with Azerbaijan, and discussions were ongoing for a preferential trade agreement between both countries.